Best Crypto Exchanges in the UK

Best Cryptocurrency Exchanges in the UK

We tested and reviewed the 32 cryptocurrency exchanges accessible from the United Kingdom to find the top contenders that follow the Financial Conduct Authority (FCA) regulations. This evaluation considered GBP deposit options, trading costs, supported cryptocurrencies, and overall user experience. Below is a detailed comparison table of the five best platforms for British investors.

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1. eToro

eToro is based in London and serves 35 million users across the UK and 100 other countries. It is the leading exchange for British investors, offering a platform for trading over 100 digital currencies, plus 6000 stocks, ETFs and other assets. The key features include CopyTrader, which allows you to replicate the trades of experienced investors and Smart Portfolios.

The platform includes a demo account for practising trades up to £100,000, enabling users to explore trading strategies without financial risk. Operating under the oversight of the Financial Conduct Authority (FCA), eToro ensures a secure trading environment for UK residents. It accepts GBP deposits through several local payment methods like BACs and Faster Payments.

• Fees: 1% transaction fee on crypto trades, plus a spread.
• Supported Assets: Over 100 cryptocurrencies, along with 6000 stocks, ETFs, and more.
• Regulation & Licensing: eToro (UK) Ltd is authorised and regulated by the FCA under Firm Reference Number 583263. It is registered in England under Company No. 07973792.
• GBP Deposit Methods: Bank transfers, credit cards, debit cards, FPS and PayPal.

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2. Kraken

Kraken is a top crypto exchange in the UK, offering spot trading, futures contracts, and margin trading with leverage options up to 5x supported. There are more than 290 cryptocurrencies and 100 derivatives contracts available. The advanced trading interface, Kraken Pro, provides sophisticated tools, multiple order types, real-time market data and 25+ staking assets.

For institutional clients, Kraken delivers specialised services such as OTC trading, high-volume transaction support, and dedicated account management. Its commitment to security is evident through its industry-leading protocols, including advanced cold storage solutions and regular Proof of Reserves audits. Additionally, it offers 24/7 customer support and a user-friendly mobile app.

• Fees: Maker fees start at 0.16% and taker fees at 0.26%
• Supported Assets: Over 290 cryptocurrencies.
• Regulation & Licensing: Registered Cryptoasset Firm (‘Payward Ltd.’, FRN 928768) with the FCA.
• GBP Deposit Methods: Bank transfers, Faster Payments, SWIFT, and credit or debit cards.

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3. Uphold

Uphold is based in London and provides a platform tailored to British investors. It has over 10 million registered users and offers 300 + cryptocurrencies, plus 4 precious metals and 27 fiat currencies. The exchange enables transactions across different asset classes, allowing users to trade directly between any supported assets without the need for intermediate conversions. 

The platform is a pioneer in transparency, publishing real-time data on its assets and liabilities to ensure full backing of customer funds. Uphold offers additional features such as the Uphold Card, enabling users to spend their holdings directly, and the Uphold Vault, providing assisted self-custody solutions. For institutional clients, Uphold delivers OTC trading and staking options.

• Fees: A 1% trading fee and a 1% spread fee.
• Supported Assets: Over 300 digital assets, 4 precious metals and 27 fiat currencies.
• Regulation & Licensing: Uphold Europe Limited is registered with the FCA under Firm Reference Number 938277.‍
• GBP Deposit Methods: Bank transfers, credit cards, debit cards, Apple Pay, and Google Pay.

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4. Gate.io

Gate.io is a crypto exchange offering British users access to an extensive selection of over 2,700 digital assets for spot trading, margin trading with up to 100x leverage, and hundreds of derivatives contracts. It also provides innovative tools like spot and futures grid trading bots, a demo account and copy trading, enabling users to automate strategies and follow successful traders.

It impresses with its significant daily trading volume, often surpassing $8 billion, and a global community of more than 18 million users. There is a suite of financial services, including staking, lending, and structured products, allowing users to earn passive income on their holdings. Additionally, Gate.io maintains transparency through regular Proof of Reserves audits.

• Fees: 0.1% for maker orders and 0.2% for taker orders.
• Supported Assets: Over 2,700 digital assets.
• Regulation & Licensing: While not directly regulated by the FCA, it is accessible to UK investors.‍
• GBP Deposit Methods: Bank transfers, debit cards, credit cards, and Faster Payments.

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5. OKX

OKX is a comprehensive crypto platform offering British users various services, including access to decentralised finance (DeFi) and non-fungible tokens (NFT). The exchange supports over 350 cryptocurrencies for spot and futures trading with up to 50x leverage. It integrates with TradingView, offering advanced charting tools and trading features directly within the platform.

It provides a suite of Web3 services, including a DeFi aggregator that allows users to participate in liquidity pools, yield farming, and crypto staking across multiple protocols. The platform also features an NFT marketplace, enabling users to explore, buy, and sell digital collectibles. OKX is directly compatible with popular web3 protocols like AAVE, UniSwap and liquid staking platforms like Lido.

• Fees: 0.1% fee for spot trading.
• Supported Assets: Over 350 digital assets.
• Regulation & Licensing: Not registered with FCA but available in UK.
• GBP Deposit Methods: Faster Payments, bank transfers, and debit or credit cards.

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Is Crypto Regulated in the UK?

The UK has established a comprehensive regulatory framework for cryptocurrencies, primarily overseen by the Financial Conduct Authority (FCA). The FCA enforces compliance with anti-money laundering (AML) and Know Your Customer (KYC) protocols, requiring crypto businesses, including exchanges and custodial wallet providers, to register and adhere to regulations.

In September 2024, the UK government introduced the Property (Digital Assets) Bill to Parliament, aiming to clarify the legal status of cryptocurrencies and non-fungible tokens (NFTs). This legislation seeks to recognise these digital holdings as personal property under English and Welsh law, providing owners with increased legal protection against fraud and scams.

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How is Crypto Taxed in the UK?

In the United Kingdom, the taxation of cryptocurrencies is governed by Her Majesty's Revenue and Customs (HMRC). The tax treatment depends on the nature of your activities involving crypto assets.

• Capital Gains Tax (CGT): If you dispose of crypto assets, such as selling, exchanging, or using them to purchase goods and services, you may incur a capital gain or loss. If your total gains exceed the annual tax-free allowance (£3,000 for the 2024–2025 tax year), you are liable to pay CGT. The tax rates are 10% for basic-rate taxpayers and 20% for higher and additional-rate taxpayers.
• Income Tax: If you receive cryptocurrency through activities like mining, staking, airdrops (in certain circumstances), or as payment for goods and services, it is typically treated as income. Such income is subject to Income Tax and National Insurance contributions, with rates varying from 20% to 45% depending on your total taxable income.

HMRC requires detailed records of all cryptocurrency transactions, including dates, amounts, values in pound sterling, and the nature of the transactions. Accurate record-keeping is essential for calculating tax liabilities and for compliance purposes. 

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How to Buy Bitcoin in the UK

British investors can buy Bitcoin using crypto exchanges supporting GBP deposits and adhering to the Financial Conduct Authority (FCA) regulations. Below is a simple guide to buying BTC through a platform:

1. Create an Account: Begin by choosing an exchange that complies with FCA regulations. Sign up by providing essential information such as your name and email, then complete the identity verification process.
2. Deposit British Pounds (GBP): Head to the platform’s deposit section, enter the amount of GBP you wish to invest, and choose your preferred payment method; options often include bank transfer or debit/credit card.
3. Find Bitcoin: Navigate to the trading section, search for "BTC" to locate Bitcoin, and select the GBP/BTC trading pair. Specify how much Bitcoin you want to purchase or the GBP amount you’d like to spend.
4. Execute the Trade: Carefully review the transaction details, double-check the Bitcoin amount, and confirm the purchase.

Following these steps enables investors to buy Bitcoin in the United Kingdom easily while adhering to local regulatory requirements for added compliance.

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Bottom Line

Choosing the best crypto exchange in the United Kingdom depends on your trading objectives and investment style. For British investors, we recommend using platforms that adhere to the FCA regulations. Leading options include eToro, Kraken, OKX, Uphold, and Gate.io.

These regulated platforms offer a combination of useful tools and services, such as simple interfaces, advanced trading options, and diverse asset selections.